The automotive interior market is projected to grow from USD 153.5 billion in 2022 to USD 201.2 billion by 2027, at a CAGR of 5.6% during the forecast period. The rising demand for safety, convenience, and comfort from the consumers and various government regulations regarding safety and lightweight vehicles are forcing automotive interior manufacturers to bring technological advancements in various automotive interior components.
Some of the key market players include Continental AG (Germany), Faurecia SA (France), Grupo Antolin (Spain), Marelli (Japan), and Magna International Inc. (Canada), Adient (US), Hyundai Mobis(South Korea), Dräxlmaier Group (Germany), Hella(Germany), Valeo(France) and Panasonic Corporation (Japan). New product developments, expansions, collaborations, and supply contracts are the key strategies adopted by these players to gain traction in the automotive interior market.
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Grupo Antolin specializes in designing, developing, and manufacturing automotive components. It is one of the leading players in the automotive interiors and offers products and solutions segments such as overheads & trunk trim, lighting and cockpits & consoles, and doors & hard trim. In July 2020, Grupo Antolin entered a strategic partnership with German integrated electronics provider AED Engineering. Grupo Antolin will improve its electronic capabilities, which are vital for the transformation process it is undertaking to consolidate the company as a global provider of technological solutions for automotive interiors.
Continental offers products such as center stack, display solutions for rear-seat passengers, HUDs, and instrument clusters under the Interior business segment. In January 2021, Continental partnered with Here and Leia Inc. to develop a first-in-industry integrated three-dimensional navigation system for vehicle display units. In September 2021 Continental AG and Horizon Robotics come into joint venture to focus on delivering better solutions for the Advanced Driver Assistance System (ADAS), which will be done by integrating new hardware, including antennas, radars, and sensors. Continental will have a majority stake in this joint venture.
Faurecia is another key player in the automotive interior market. Under the automotive seating and automotive interior segment, the company designs and manufactures complete vehicle seats, seating frames, and adjustment mechanisms. The Interior system includes the design and manufacture of instrument panels, complete cockpits, door panels and modules, and acoustic systems. In July 2020, Faurecia and BAIC announced the establishment of a new 50-50 joint venture in China. The new joint venture between BAIC and Faurecia provides complete seat assembly, seat frames, foams, and headrests initially for BAIC Hyundai and BAIC-owned brands. Headquartered in Beijing, the joint venture has 500 employees and four plants in Beijing, Chongqing, Huanghua, and Xiangtan.
Automotive Interior Market by Component (Automotive Displays, Door Panel, Dome Module, Headliner, Seat, Interior Lighting), Material Type, Level of Autonomy, Electric Vehicle, Passenger Car Class, ICE Vehicle Type and Region - Global Forecast to 2027
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